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Quiet Guy

Physical Heads East

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because this is a Financial Times article, you'll need to register to read it. The FT does not like people quoting from their article either so I'll give you a summary instead.

http://www.ft.com/cm...144feabdc0.html

Essentially, UK gold exports to Switzerland have changed from 83 tonnes in the first half of 2012 to 798 tonnes in the first half of 2013. We can argue all day about what this means but there seems little doubt that the metal is flowing to Eastern investors. ETF investors are selling while Eastern buyers are willing to pay to more for the metal. Swiss metal refiners are currently working hard to keep up with the demand for refining the 4000toz bars into forms more suitable for Eastern buyers.

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UK gold exports to Switzerland have changed from 83 tonnes in the first half of 2012 to 798 tonnes in the first half of 2013.

I saw this figure in the Telegraph/FT this morning. It's staggering.

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